Endeavour Group’s executive chairman, Ari Mervis, has resigned effective immediately, citing disagreement with the board. 

Mervis was named executive chairman just five months ago, after joining the liquor retailer’s board in March 2024.

Endeavour Group’s lead independent director Duncan Makeig will assume the role of interim chair and lead the search and recruitment of a permanent chair, expected to be in place by January 1 of next year. 

“The board and management are undertaking a strategy refresh which will include a portfolio-wide examination of the group’s performance, key business drivers and execution across retail, hotels and the Pinnacle business, with the clear aim of maximising long-term shareholder value,” said Makeig. 

Kate Beattie, the group’s current CFO, will be stepping in as interim CEO until Jayne Hrdlicka takes up the role in January.

Beattie has been a part of the Endeavour Group for eight years, holding the role of CFO for the last two years, and has extensive operational and strategic experience. 

Hrdlicka is currently consulting the board and senior management as she refreshes the group’s strategy and will take up the role of CEO following the receipt of all necessary regulatory approvals next January. 

The group’s sales for the current financial year are expected to be $12.06 billion, with an expected next profit after tax to be in the range of $420 million and $425 million.

This would be down from $12.3 billion in net sales and $512 million in net profit after tax in FY24, a period that had 53 weeks compared to this year’s 52 weeks.